Paramount in the Philippines
Since 1954, the Philippine Insurers and Reinsurers Association (PIRA) has been working to make all aspects of insurance easier for consumers, agents and insurance companies in the Philippines. PIRA started as the Philippine Insurance Rating Association whose job mainly was to come up with prescribed rates for insurance companies. Four decades after its founding, the […]
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Since 1954, the Philippine Insurers and Reinsurers Association (PIRA) has been working to make all aspects of insurance easier for consumers, agents and insurance companies in the Philippines.
PIRA started as the Philippine Insurance Rating Association whose job mainly was to come up with prescribed rates for insurance companies. Four decades after its founding, the company merged with the Insurance and Surety Association of the Philippines (ISAP), with PIRA changing its meaning to Philippine Insurers and Reinsurers Association. PIRA at present is the voice of the Philippine non-life insurance industry, forecasting and responding to issues that may arise, and anticipating opportunities to enable its members to better serve their customers. PIRA encompasses all non-life insurance companies in the Philippines. It is constantly trying to improve and achieve its mission to meet the needs of its members.
Products
Insurance
Fire and allied perils
Paramount’s FIRE Insurance plan – in the event of a disaster, whether caused by fire or other perils, the value of your property is not lost.
Types of buildings covered: RESIDENTIAL, COMMERCIAL, WAREHOUSE and INDUSTRIAL
Extensions: : For an added premium, your policy can be extended to include coverage against: Earthquake Fire/Earthquake Shock, Typhoon, Flood, Smoke Damage, Vehicle Impact, Falling Aircraft, Broad Water Damage, Sprinkler Leakage, Bursting of Water Tanks and Pipes, Landslides/Subsidence, Spontaneous Combustion, Robbery/Burglary.
Motor insurance
Manage safety with Paramount’s comprehensive vehicle insurance coverage, which includes third party liability.
Coverage Period: 1 year
CTPL: ✓
Extensions: This coating protects against loss or damage to the vehicle and its accessories and parts due to floods, typhoons, hurricanes, volcanic eruptions, earthquakes and other natural disasters.
Investments
Prime Opportunity plan
A participating endowment plan that provides life insurance coverage up to age 60 and provides guaranteed, scheduled cash benefits.
Age of clients: 15 – 40 years old
Minimum life coverage: 100 000 PHP
Guaranteed planned cash benefits:
- 10% of Face Amount at age 45
- 20% of Face Amount at age 50
- 30% of Face Amount at age 55
- 100% of Face Amount at age 60
2 payment term choices:
- One-time payment
- 5-year payment
Universal Life Premier plan
The plan combines savings protection and life insurance, and has a plan for regular and scheduled payments.
Age of clients: 3 months – 70 years old
Coverage Period: whole life
Minimum investment amount: 500 000 PHP
Payment periods: 5 years, 10 years
Contacts
| Full company name | Paramount Life & General Insurance Corporation |
| Address | 14F & 15F SAGE HOUSE, 110 V.A. RUFINO ST. MAKATI CITY |
| Phone number | +632 8 772 9200 |
| INSURE@PARAMOUNT.COM.PH | |
| Social networks |
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